General Discussion

-misanthroptimist

(1,540 posts)

10. "Cost" is indeed an abstract.

Mon Nov 17, 2025, 02:51 PM

Monday

What is the value of a dollar? It used to be based on gold (which itself is an arbitrary standard). The situation is even more abstract today with floating currency. A dollar is worth what large numbers of people think it's worth.

Therefore, a dollar has no intrinsic monetary value. Neither does gold. Economics is a game that most people on this planet are losing -badly in many cases. There is no particular need for it if we set aside the idiotic idea that one thing is "worth more" than another thing in any real way.

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Are We Humans or Homo Economicus? Why Economics Needs to Evolve Beyond Growth [View all] Celerity Friday OP

Captive chimpanzees do that. I wonder what they do Phoenix61 Friday #1

Seriously, why do we need economics at all? -misanthroptimist Friday #2

Fretting about the costs is pointless? Redleg Friday #5

Cost is an abstract and limited construct -misanthroptimist Friday #7

It seems a big gulf between "ignoring costs" and the notion that "the entire idea is antiquated and unnessary" Redleg Sunday #9

"Cost" is indeed an abstract. -misanthroptimist Monday #10

Many concepts are abstract but need not be ignored Redleg Yesterday #11

Well worth the read leftstreet Friday #3

A good number of the more recent winners addressed the limitations of rationality Redleg Friday #4

Not sure it's valuable in the framework of Capitalism leftstreet Friday #6

I don't understand your point Redleg Sunday #8

Good Read malaise Yesterday #12